Scandinavia: Market for Non-Automatic Lubricating Pots, Greasing Nipples, Oil Seal Rings And Hand Wheels 2022

Market Size for Non-Automatic Lubricating Pots, Greasing Nipples, Oil Seal Rings And Hand Wheels in Scandinavia

The Scandinavia market for non-automatic lubricating pots, greasing nipples, oil seal rings and hand wheels skyrocketed to $X in 2021, with an increase of 25% against the previous year. Overall, consumption recorded a prominent expansion. Over the period under review, the market reached the maximum level in 2021 and is likely to see steady growth in the immediate term.

Production of Non-Automatic Lubricating Pots, Greasing Nipples, Oil Seal Rings And Hand Wheels in Scandinavia

In value terms, grease fittings and oil seals production dropped modestly to $X in 2021 estimated in export price. The total production indicated a perceptible increase from 2012 to 2021: its value increased at an average annual rate of +2.0% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production increased by +82.1% against 2017 indices. The growth pace was the most rapid in 2019 with an increase of 40% against the previous year. The level of production peaked at $X in 2020, and then reduced modestly in the following year.

Exports of Non-Automatic Lubricating Pots, Greasing Nipples, Oil Seal Rings And Hand Wheels

Exports in Scandinavia

In 2021, overseas shipments of non-automatic lubricating pots, greasing nipples, oil seal rings and hand wheels increased by 107% to X units, rising for the third year in a row after six years of decline. In general, exports, however, saw a noticeable contraction. The volume of export peaked at X units in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

In value terms, grease fittings and oil seals exports skyrocketed to $X in 2021. Over the period under review, exports, however, recorded a abrupt curtailment. The level of export peaked at $X in 2014; however, from 2015 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Denmark (X units) and Finland (X units) represented the key exporters of non-automatic lubricating pots, greasing nipples, oil seal rings and hand wheels in 2021, finishing at approx. 44% and 30% of total exports, respectively. Sweden (X units) ranks next in terms of the total exports with a 17% share, followed by Norway (8.4%).

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the leading exporting countries, was attained by Finland (with a CAGR of +20.3%), while the other leaders experienced mixed trends in the exports figures.

In value terms, the largest grease fittings and oil seals supplying countries in Scandinavia were Denmark ($X), Sweden ($X) and Norway ($X), with a combined 85% share of total exports. Finland lagged somewhat behind, comprising a further 15%.

In terms of the main exporting countries, Finland, with a CAGR of +12.7%, recorded the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced a decline in the exports figures.

Export Prices by Country

The export price in Scandinavia stood at $X per unit in 2021, waning by -35.7% against the previous year. In general, the export price showed a deep contraction. The pace of growth appeared the most rapid in 2013 an increase of 62% against the previous year. The level of export peaked at $X per unit in 2014; however, from 2015 to 2021, the export prices failed to regain momentum.

There were significant differences in the average prices amongst the major exporting countries. In 2021, the country with the highest price was Norway ($X per unit), while Finland ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Denmark (-1.2%), while the other leaders experienced a decline in the export price figures.

Imports of Non-Automatic Lubricating Pots, Greasing Nipples, Oil Seal Rings And Hand Wheels

Imports in Scandinavia

In 2021, approx. X units of non-automatic lubricating pots, greasing nipples, oil seal rings and hand wheels were imported in Scandinavia; growing by 39% against 2020 figures. In general, imports enjoyed buoyant growth. The most prominent rate of growth was recorded in 2018 with an increase of 55%. Over the period under review, imports hit record highs in 2021 and are expected to retain growth in the near future.

In value terms, grease fittings and oil seals imports dropped to $X in 2021. Over the period under review, imports, however, recorded a noticeable downturn. The growth pace was the most rapid in 2018 with an increase of 20% against the previous year. The level of import peaked at $X in 2013; however, from 2014 to 2021, imports failed to regain momentum.

Imports by Country

Denmark (X units) and Finland (X units) represented roughly 86% of total imports in 2021. It was distantly followed by Sweden (X units), constituting a 10% share of total imports. Norway (X units) followed a long way behind the leaders.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the leading importing countries, was attained by Denmark (with a CAGR of +25.3%), while imports for the other leaders experienced mixed trends in the imports figures.

In value terms, Denmark ($X), Norway ($X) and Sweden ($X) constituted the countries with the highest levels of imports in 2021, with a combined 80% share of total imports. These countries were followed by Finland, which accounted for a further 19%.

In terms of the main importing countries, Finland, with a CAGR of +1.0%, saw the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced mixed trends in the imports figures.

Import Prices by Country

In 2021, the import price in Scandinavia amounted to $X per unit, which is down by -37% against the previous year. Overall, the import price faced a abrupt decrease. The most prominent rate of growth was recorded in 2019 an increase of 45%. Over the period under review, import prices hit record highs at $X per unit in 2013; however, from 2014 to 2021, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major importing countries. In 2021, the country with the highest price was Norway ($X per unit), while Finland ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Norway (+4.1%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform